Renault India, the fully owned subsidiary of Renault sas announced a price hike for its premium SUV, KOLEOS. The new prices will be effective from the January 1st 2012.

In the face of the huge devaluation of the Indian rupee against major currencies the company was forced to revise the price of the Koleos. The Koleos is fully imported and sold in the Indian market as a premium SUV.

Referring to the price hike Mr Marc Nassif MD of Renault India said that “This has been necessitated by the increase in the cost of raw materials and fluctuations in the currency market. Until now we have been absorbing the increases, but we now have to reflect an element of these costs in our pricing. The flagship Renault Koleos with it’s outstanding levels of refinement and luxury remains excellent value for money. It has been very well received in the Indian market has already established a strong position in the Premium SUV segment in India.”

Renault KOLEOS made its India debut in India in September 2011. The Koleos has been highly appreciated by the Indian customers for its features, performance and the value it brings. The Koleos registered a 51% YoY growth in the first half of 2011 in Europe. It is currently being sold across five continents and in markets as diverse as Europe, South America and Asia Pacific.